All About the 2021 Child Tax Credit and Advanced Child Tax Credit Payments

Recently, changes were made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit: Amount has increased for certain taxpayers Is fully refundable (meaning you can receive it even if you don’t owe the IRS) May be … Read more

5 Things Solopreneurs Need to Know

Have you ever heard the term “solopreneur”? It’s one that’s become more common as the shape of work shifts, particularly during and as we exit the COVID-19 pandemic. In business language, a solopreneur is an entrepreneur and a one-person business. In layman’s terms, that means that one person (you) acts as your business’ CEO, employee … Read more

Why Is GAAP Such a Big Deal for Nonprofits?

There’s a lot of confusion out there about what qualifies an organization as “nonprofit”. And it’s no wonder. While we understand nonprofits generally as organizations dedicated to furthering some sort of social cause or mission, not all nonprofits benefit the same cause nor do so in the same way. Some nonprofits have charitable aims, whereas … Read more

3 Construction Business Challenges with Simple Accounting Solutions

Businesses in the construction sector spend and earn tons of capital every year, worldwide. In fact, U.S. experts predict that construction spending will hit more than 1.5 trillion by 2022. With massive amounts of capital comes an equal number of opportunities to slip up on estimates and invoices, misfile numbers sheets, exceed scope without documentation, … Read more